Council meet: Rates, clarifications
The New Indian Express Madurai
|December 22, 2024
EVEN though the GST Council in its 55th meeting in Jaisalmer avoided "thorny" issues such as lowering GST rates on insurance premium and a discussion on rate rationalisation, it did make several changes in the rates of goods and services.
Among the major changes announced, the Council decided to increase the GST rate from 12% to 18% on sale of all old and used vehicles, including EVs.
Currently, 18% GST is levied on sale of old and used petrol vehicles of engine capacity of 1200 cc or more & of length of 4000 mm or more; diesel vehicles of engine capacity of 1500 cc or more & of length of 4000 mm and SUVs.
However, finance minister Nirmala Sitharaman clarified the 18% GST would only be levied only on the margin - difference between the purchase price and selling price (depreciated value if depreciation is claimed) and not on the value of the vehicle. The FM also clarified that the GST is not applicable in case of unregistered persons.
The tax rate on caramelised popcorn - that took the social media by a storm on Saturday - has been increased from 5% to 18%.
Bu hikaye The New Indian Express Madurai dergisinin December 22, 2024 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
Zaten abone misiniz? Oturum aç
The New Indian Express Madurai'den DAHA FAZLA HİKAYE
The New Indian Express Madurai
India needs political will to handle its many health crises
§ 2026 begins, India’s health sector faces formidable challenges.
3 mins
January 04, 2026
The New Indian Express Madurai
The Age of Anxious Peace
India’s internal security environment in 2025 reflects a complex interaction between longstanding conflict patterns and rapidly evolving threats.
3 mins
January 04, 2026
The New Indian Express Madurai
India's Happiness Paradox
As ambitions soar and prosperity rises, inner peace declines, revealing a deeper crisis of purpose behind the nation's visible progress
3 mins
January 04, 2026
The New Indian Express Madurai
Mumbai leads in home sales in Q3 as registration rises 6%
MUMBAI, which commands the highest real price tags in the country and is also among the dearest globally, has recorded its strongest housing sales in the last 14 years in 2025.
1 mins
January 04, 2026
The New Indian Express Madurai
Called by the Desert
Fifteen years ago, scrolling late one night, Tokyo resident Mayumi stumbled upon a clip of Kalbelia dance—black skirts flaring, khartal clapping, bodies moving like flames.
1 min
January 04, 2026
The New Indian Express Madurai
Snake bite claims 13 lives in 50 days in U’khand amid climate-change scare
CLIMATE change is increasingly being cited as the primary driver behind the alarming surge in wildlife attacks across Uttarakhand, with recent data suggesting the impact extends beyond bears and leopards to include venomous snakes becoming unusually active during winter months.
1 min
January 04, 2026
The New Indian Express Madurai
Currying Favour with Vegetables
Serving vegetarian cuisine for more than a century, Hiltl has become Zurich’s iconic dining destination for locals and travellers alike
2 mins
January 04, 2026
The New Indian Express Madurai
Banks see sharp rise in deposit, credit in Q3FY26
DRIVEN by high festive demand and GST rate cut-induced shopping spree, both public and private sector banks have turned the low-credit-growth-lower deposit growth tides in the third quarter clocking high to mid double digits growth in advances and deposit accretion.
1 min
January 04, 2026
The New Indian Express Madurai
Pune civic polls put state allies BJP, Pawar in war of words over graft charges
WITH NCP leader and Maharashtra DCM Ajit Pawar accusing the BJP of corruption during its tenure in Pune and Pimpri Chinchwad Municipal Corporation (PCMC) through inflated work orders, the war of words between the two parties has intensified.
1 min
January 04, 2026
The New Indian Express Madurai
Trump’s Venezuela action sets dangerous precedent, says Takshashila chair
IN a blatant expression of unbridled power, US President Donald Trump struck Venezuela and abducted sitting President Nicolas Maduro and his wife from their heavily guarded location in Caracas Calling the US action extraordinary and setting a “dangerous precedent,” Chairperson, Indo-Pacific Studies Programme, Takshashila Institution, Bengaluru, Manoj Kewalramani said that “legally speaking, this operation stands on a weak footing.
1 min
January 04, 2026
Listen
Translate
Change font size